Thomas Lee Predicts Huge Bitcoin Growth

Bitcoin has underperformed in recent weeks, but the leading cryptocurrency is expected to see massive growth in the coming weeks and months.

The managing partner and head of research at Fundstrat Global Advisors, Thomas Lee, recently announced in an interview that in his opinion, Bitcoin will soon experience exponential growth. He made this statement at a time when Bitcoin was struggling to stay above the $50,000 level.

Lee explained that Bitcoin still has exponential growth ahead of it, as the leading cryptocurrency is starting to establish itself in the mainstream. During the discussion of the recent drop in prices, Lee said that it makes more sense to hold the cryptocurrency during the current period of volatility:

“Every year, Bitcoin makes all its profits in 10 days, and if you do not own Bitcoin for these ten days, your ownership has decreased by 25% annually. For me, the kind of weekend massacre that happened is painful, but it’s pretty common.”

The Fundstrat executive also commented that Jack Dorsey has given up his role as Twitter CEO and has focused on Square (now called Block). Lee stressed that the move is an optimistic sign for the cryptocurrency space, as someone with Dorsey’s experience and expertise represents a huge boost for the broader cryptocurrency market.

Lee added that the cryptocurrency space is still in its infancy and the projects will grow larger in the coming years. It is expected that Bitcoin and other leading cryptocurrencies will rise higher in the coming months and years.

The broader cryptocurrency market has been in a bearish trend in recent weeks. Bitcoin lost more than 25% of its value after falling from an all-time high of $69,044 to just over $48,000.

However, BTC is slowly recovering and is trading above $50,000 at the time of writing. The medium and long-term prospects for Bitcoin and other leading cryptocurrencies remain positive, despite the recent drop in prices.

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